M&A Deal Summary

Performance Health Acquires Performance Health and Wellness

On May 31, 2016, Performance Health acquired consumer products company Performance Health and Wellness from Martis Capital Managment, Gridiron Capital, Triangle Capital and Maranon Capital

Acquisition Highlights
  • This is Performance Health’s 1st transaction in the Consumer Products sector.
  • This is Performance Health’s 1st transaction in the United States.
  • This is Performance Health’s 1st transaction in Ohio.

M&A Deal Summary

Date 2016-05-31
Target Performance Health and Wellness
Sector Consumer Products
Buyer(s) Performance Health
Sellers(s) Martis Capital Managment
Gridiron Capital
Triangle Capital
Maranon Capital
Deal Type Add-on Acquisition
Advisor(s) Credit Suisse Investment Banking (Financial)
Ropes & Gray (Legal)

Target

Performance Health and Wellness

Akron, Ohio, United States
website
Performance Health and Wellness, Inc. is a manufacturer and marketer of rehabilitation and wellness products including topical analgesics, resistance bands and tubing, exercise balls, hand exercisers, and stability trainers.

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Buyer(S) 1

Buyer

Performance Health

Warrenville, Illinois, United States

website


Category Company
Sector Distribution
Revenue 464M USD (2015)
DESCRIPTION
Patterson Medical's corporate headquarters in Warrenville, Illinois.
Patterson Medical's corporate headquarters in Warrenville, Illinois.

Performance Health is a multichannel branded supplier to the global rehabilitation, recovery and sports medicine markets. Its proprietary product portfolio consists of market leading health and wellness brands, including Biofreeze, TheraBand, Hygenic and Cramer. Performance Health is based in Warrenville, Illinois.


DEAL STATS #
Overall 1 of 2
Sector (Consumer Products) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (Ohio) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-19 Patterson Medical - Days Products

Warrenville, Illinois, United States

Patterson Medical - Days Products include care home beds, community beds, mobility scooters, electric riser recliner chairs, hoists, powered and configured wheelchairs.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-06 Sissel France

Couëron, France

Sissel France is a distributor of physiotherapy equipment to medical shops in France. Sissel France was formed in 1991n and is based in Couëron.

Buy -

Seller(S) 4

DESCRIPTION

Martis Capital Management is a private equity firm focused exclusively on the North American middle-market healthcare industry. The Firm seeks founder-led companies in the services and outsourcing, information technology, consumer and wellness, and products and diagnostic sub-sectors. Martis considers buyout and growth equity opportunities with typical transactions between $25 and $100 million. Martis Capital Management is headquartered in San Francisco, California.


DEAL STATS #
Overall 2 of 9
Sector (Consumer Products) 1 of 1
Type (Add-on Acquisition) 2 of 5
State (Ohio) 1 of 1
Country (United States) 2 of 9
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-22 Altruista Health

Reston, Virginia, United States

Altruista Health, Inc. is a provider of care management technology solutions that address the complex care and support needs of Medicaid, long-term care and other special needs populations. Altruista Health was founded in 2007 and is based in Reston, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-01 Healthy Living Network

Folsom, California, United States

Healthy Living Network is an independently owned and operated premier providers of Home Health Services in California, Oregon, Arizona, and Nevada. Healthy Living Network's mission is to provide exceptional clinical care and services to the aging population, in their home, with the intent of not just getting them well, but assisting them to a healthier state of being. Healthy Living Network was founded in 2008 and is based in Folsom, California.

Buy -
SELLER

Gridiron Capital

New Canaan, Connecticut, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2004
PE ASSETS 764M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Gridiron Capital is a private equity firm focused on acquiring mid-sized North American manufacturing, service and specialty consumer companies. Gridiron looks to commit companies with EBITDA up to $60 million. The Firm prefers controlling interests when considering transactions. Situations of interest include companies operating in sectors undergoing change, closely held companies owned by founding family or management for ownership transition, and corporate divestitures of orphaned or non-strategic business units. Gridiron Capital was formed in 2004 and is based in New Canaan, Connecticut.


DEAL STATS #
Overall 8 of 17
Sector (Consumer Products) 3 of 3
Type (Add-on Acquisition) 2 of 6
State (Ohio) 1 of 1
Country (United States) 8 of 17
Year (2016) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-01 Travel Nurse across America

North Little Rock, Arizona, United States

Travel Nurse Across America is a provider of travel nurse staffing services in the United States. Travel Nurse Across America serves some of the largest hospital and healthcare systems in the United States through direct customer relationships, managed services providers, and vendor management systems.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-01 Leaf Home Solutions

Hudson, Ohio, United States

Leaf Home Solutions is a provider of branded home solutions. Leaf Home Solutions products enhance the safety, enjoyment, and comfort of homeowners and their families and protect the condition and enhance the appearance and value of their homes. Leaf Home Solutions is based in Hudson, Ohio.

Buy -
SELLER

Triangle Capital

Raleigh, North Carolina, United States

website


Category Private Equity Firm
Founded 2007
Size Middle-Market
Type Sector Agnostic
DESCRIPTION


DEAL STATS #
Overall 35 of 70
Sector (Consumer Products) 5 of 6
Type (Add-on Acquisition) 18 of 33
State (Ohio) 2 of 5
Country (United States) 35 of 69
Year (2016) 8 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-03 ReNew Life Formulas

Palm Harbor, Florida, United States

ReNew Life Formulas, Inc. is a natural digestive care company. ReNew Life a major brand in dietary health, with an emphasis on digestive health. Renew Life is the No. 1 brand of probiotics in the natural channel,1 with a steadily growing share in the food, drug, and mass channel.

Sell $290M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-11 On Event Services

Norcross, Georgia, United States

On Event Services LLC is specializes in corporate events and exhibitions, supporting more than 1,000 live events annually with production services, including audio, video, lighting, mapping and scenic design.

Sell -
SELLER

Maranon Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 2007
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Maranon Capital LP is an investment firm that provides senior financing, mezzanine debt and equity co-investments for private equity backed and non sponsored middle market companies. Maranon seeks investments in financially healthy businesses with stable cash flows, diverse customers, and strong management. Prospective companies are valued between $30 and $150 million and generate $5 to $30 million of EBITDA. Maranon looks to invest $2 to $10 million for equity co-investments, $5 to $30 million for junior capital needs, and $10 to $50 million for senior debt requirements. Areas of interest include business services, healthcare services, distribution, manufacturing and consumer products/services. Funds typically support acquisitions, recapitalizations, refinancings, consolidations, ESOPs and growth capital needs. Maranon Capital LP was formed in 2007 and is based in Chicago. The Firm has additional offices in Birmingham, Michigan and South Bend, Indiana.


DEAL STATS #
Overall 8 of 20
Sector (Consumer Products) 1 of 1
Type (Add-on Acquisition) 2 of 4
State (Ohio) 1 of 2
Country (United States) 8 of 20
Year (2016) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-15 Neptune Benson

Coventry, Rhode Island, United States

Neptune Benson, Inc. is a manufacturer of high quality water filtration and disinfection products for the recreational, industrial and municipal water markets.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-08 Wedgewood Pharmacy

Swedesboro, New Jersey, United States

Wedgewood Pharmacy is a pharmacy specializing in animal health, addiction medicine, and urology. Wedgewood has a broad and diverse portfolio of offerings, leading to low customer and stock concentration; holds strategic partnerships with veterinary corporate groups; and offers a defined value proposition to veterinary clinics and pet owners. Wedgewood Pharmacy was founded in 1980 and is based in Swedesboro, New Jersey.

Buy -